New records Alibaba's Singles Day

November 14, 2018 by
Nico Hoeijmans

Alibaba logoAs expected, Alibaba has realised a record turnover during Singles Day last Sunday. In total, a turnover of 31 billion was generated that day, a 27% year on year growth. As the Chinese Yuan has a weaker position compared to the dollar in respect to a year earlier, online retailers had to sell more products to reach the new record. In the first 90 seconds, products with a total value of 1 billion dollars were sold. This was a record as well, compared to the five minutes and 21 seconds of 2017. In the first five minutes of 2018, the turnover on Singles Day was 3 billion dollars.

Alibaba's Singles Day celebrated its tenth anniversary this year. During the day, consumers could buy a wide range of products with high discounts on sites like Tmall. This year, it has transferred about 1 billion orders. This year's Singles Day was the first in which Alibaba also included its subsidiaries Lazada, Ele.me, Koube and physical supermarket Hema.

 

 

TikTok could be planning a live shopping functionality for the U.S.
TikTok might be planning to launch a live shopping service in the U.S. according to a news release by Semafor. 🔥Do you want to know more about international commerce and...
October 26, 2022
5 Top features for your eCommerce B2B
By our partners at LogiCommerce - The B2B sector is undergoing a digital transformation, and the eCommerce is the ideal channel for them to save on operating costs, reduce management...
June 16, 2022
MBE Worldwide acquires the last-mile service provider GEL Proximity
MBE Worldwide has recently succeeded in acquiring a majority stake in the GEL Proximity platform, the last-mile service provider born in Italy and specialized in e-commerce.  Do you want to...
June 15, 2022
Top crossmenu

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close